However it stopped short of saying what the project's next step will be, other than indicating its “work continues at pace”.
With support from General Motors, Andretti was ready to enter the F1 world championship as early as 2025, initially using a Renault customer engine before switching to a Cadillac unit in 2028.
The team’s bid was approved by the FIA on 2 October, but then had to pass through the second stage of being examined by the F1 organisation and its CEO Stefano Domenicali.
On Wednesday F1 issued a detailed explanation of why it had rejected Andretti, questioning the potential competitiveness of the team.
It noted that “we conclude that the applicant’s application to participate in the championship should not be successful”.
But the door has been left open for Andretti to try again when the Cadillac power unit is ready in 2028, with F1 stating “we would look differently on an application for the entry of a team into the 2028 championship with a GM power unit, either as a GM works team or as a GM customer team designing all allowable components in-house”.
Analysis: The three key factors that led F1 to turn down Andretti
In a short statement issued by way of response five hours after the F1 announcement, the team refuted the suggestion that it would not be competitive.
The team said: “Andretti Cadillac has reviewed the information Formula One Management Limited has shared and strongly disagree with its contents.
Source: Autosport